S Options History — July 2009

In July 2009, S traded between $4.00 and $4.78. ATM implied volatility averaged 60.1%, placing in the 13.5% IV rank vs the trailing year. The 30-day expected move averaged 19.7%. IV traded above realized volatility by 3.7% (HV 20d: 56.3%). Max pain ranged from $4.00 to $5.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 12 of 22 days. Put/call ratio averaged 0.54.

Notable Days

  • 2009-07-29: Highest Volume — 73,522 contracts
  • 2009-07-08: Largest IV spike — 82.5% change
  • 2009-07-28: Highest IV Rank — 23.7%
  • 2009-07-06: Largest Expected Move — 23.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$4.46$4.00$4.78$4.61$4.00
Max Pain$4.09$4.00$5.00$5.00$4.00
ATM IV60.1%33.7%76.1%52.8%57.5%
Expected Move19.7%15.1%23.1%15.1%16.5%
HV 20d56.3%47.9%64.4%55.2%59.3%
HV 60d57.8%54.4%60.3%58.8%56.4%
IV Rank13.5%0.0%23.7%2.7%13.3%
IV Percentile16.5%0.0%37.3%2.8%10.7%
Term Structure0.3%-9.4%15.6%15.6%2.1%
VWIV70.2%53.3%83.5%53.3%57.5%
Skew 25d1.7%-16.0%21.5%-16.0%13.7%
Skew 10d2.4%-28.4%28.1%-17.1%21.4%
Call IV 25d66.3%38.3%82.3%52.6%46.4%
Put IV 25d68.0%36.6%77.9%36.6%60.1%
Bid-Ask Spread %9.737.5416.207.548.47
Gamma HHI0.270.240.360.250.36
Net GEX783.4K588.0K993.8K843.6K682.8K
Net DEX-23.2M-36.1M-3.0M-27.7M-4.8M
Net VEX-269.1K-304.0K-222.7K-303.0K-226.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.540.062.030.060.59
Total Volume19,290.6822,94373,52220,1684,426
Total OI466,929.409406,274504,807479,783489,283

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-07-01$4.61$5.0052.8%15.1%55.2%2.7%53.3%-16.0%15.6%843.6K-27.7M-303.0K0.067.54N/AN/A18,9661,202317,129162,654
2009-07-02$4.32$5.0069.3%19.9%57.4%12.8%75.3%21.5%0.7%718.2K-22.9M-304.0K0.129.73N/AN/A11,8961,395329,674162,717
2009-07-06$4.47$4.0074.8%23.1%58.7%16.2%76.5%2.7%-3.0%835.9K-26.6M-303.6K0.157.72N/AN/A8,1771,234334,948162,378
2009-07-07$4.40$4.0037.5%22.7%58.2%0.0%75.8%-1.1%-3.5%765.5K-23.9M-296.8K0.168.69N/AN/A4,261684336,636163,014
2009-07-08$4.29$4.0068.4%22.7%58.6%17.7%77.2%-7.4%-0.1%695.4K-18.8M-289.4K0.269.04N/AN/A6,4501,653337,792163,256
2009-07-09$4.46$4.0043.4%21.2%60.5%3.4%74.2%1.1%2.4%801.4K-25.6M-288.0K0.869.41N/AN/A17,28214,795340,695164,112
2009-07-10$4.36$4.0033.7%21.5%57.5%0.0%75.3%-11.2%0.5%601.8K-17.9M-277.4K0.627.98N/AN/A12,5237,779334,921157,459
2009-07-13$4.30$4.0040.3%21.4%54.6%3.7%73.5%-7.4%-0.0%643.6K-17.8M-267.0K0.289.07N/AN/A4,7381,325331,851150,043
2009-07-14$4.38$4.0055.2%20.8%55.1%12.0%72.9%-4.7%1.4%669.7K-18.7M-263.7K0.4810.46N/AN/A9,6394,666330,882149,385
2009-07-15$4.63$4.0056.4%18.2%59.1%12.7%70.0%5.5%7.0%985.7K-27.4M-271.5K1.3810.29N/AN/A1,7732,441329,435147,055
2009-07-16$4.66$4.0068.0%19.5%55.6%19.1%68.9%8.2%-0.5%762.7K-28.4M-274.5K0.989.10N/AN/A1,4851,458330,679146,482
2009-07-17$4.59$4.0066.6%19.1%55.3%18.4%70.2%1.4%0.6%744.5K-25.2M-264.7K0.129.97N/AN/A8,332961326,269145,117
2009-07-20$4.75$4.0061.1%17.5%55.2%15.3%62.1%4.4%3.4%811.2K-30.4M-264.8K2.039.84N/AN/A3,1066,302269,189137,085
2009-07-21$4.72$4.0063.9%18.3%54.5%16.9%64.8%2.4%0.7%824.8K-30.4M-262.3K0.7510.05N/AN/A16,67212,556271,039136,693
2009-07-22$4.78$4.0066.3%19.0%54.1%18.2%70.4%0.4%-4.0%916.9K-36.1M-272.8K0.1516.20N/AN/A3,885597281,661131,891
2009-07-23$4.66$4.0067.9%19.5%53.4%19.1%69.3%-0.9%-5.1%909.7K-32.4M-263.9K0.699.44N/AN/A7,3705,103286,061131,453
2009-07-24$4.52$4.0069.7%20.0%53.7%20.1%75.9%2.6%-2.8%827.4K-26.0M-254.6K0.089.68N/AN/A47,4253,616290,497132,054
2009-07-27$4.55$4.0072.5%20.8%47.9%21.7%83.5%-4.7%-6.2%957.7K-28.6M-258.9K0.6712.26N/AN/A20,07913,536318,883134,037
2009-07-28$4.59$4.0076.1%21.8%47.9%23.7%78.3%-4.9%-9.4%993.8K-31.5M-265.7K0.6610.23N/AN/A24,45816,193319,973132,952
2009-07-29$4.05$4.0060.5%17.4%64.4%15.0%60.3%16.9%5.5%655.1K-6.5M-222.7K0.528.17N/AN/A48,29425,228331,173143,115
2009-07-30$4.02$4.0059.1%16.9%63.1%14.2%58.9%15.2%1.6%588.0K-3.0M-223.4K0.2310.82N/AN/A16,5813,853328,749152,076
2009-07-31$4.00$4.0057.5%16.5%59.3%13.3%57.5%13.7%2.1%682.8K-4.8M-226.9K0.598.47N/AN/A2,7761,650339,224150,059